Africa’s financial giants are holding their ground. In a year marked by global uncertainty and domestic challenges, the continent’s banking sector has shown elasticity, if not dazzling growth. Our annual survey of Africa’s Top 100 Banks paints a picture of steady hands steering through turbulent waters, balancing family-owned legacies, regional ambitions, and the pressures of politics and reform.
The upper ranks of Africa’s banking elite remain remarkably stable. South Africa’s Standard Bank continues its unbroken reign as the continent’s largest financial institution, boasting $13.2 billion in Tier 1 capital, up from $12.5 billion in 2024. It is a comfortable lead over its nearest rival, National Bank of Egypt, which reported a slight dip to $7.3 billion from $7.5 billion the previous year.
Morocco’s Attijariwafa Bank holds on to third place, edging closer to its North African peer with a Tier 1 capital of $6.2 billion, up from $6 billion in 2024. That upward momentum mirrors a strong operational year: Attijariwafa’s net profit surged 26.6% to $950 million in 2024, powered by growth across its 14 African markets. The bank increased domestic lending by 8%, capturing 28.1% of Morocco’s market share, and strengthened its footprint across the continent, from Côte d’Ivoire to Senegal and beyond.
In a nod to Africa’s growing digital and diaspora-driven economy, the bank also deepened its collaboration with global payments company Thunes, allowing Moroccans abroad to send money home in seconds.
A Continental Snapshot: This year’s list of the Top 100 African Banks offers a reflection of both continuity and quiet evolution. Algeria’s two largest banks swapped places at #10 and #11, while several mid-tier institutions in Nigeria, Kenya and Egypt posted modest gains. But overall, total capital across the Top 100 remains below 2022 levels. It is an evidence that stability has returned the banks and robust growth is in gradual progress.
Behind the numbers lie human stories of leadership succession, public trust, and the political balancing act inherent in African finance. Many of the continent’s largest banks are not just financial institutions; they are pillars of national identity and engines of state policy. From family-founded enterprises that have become regional conglomerates to publicly listed giants navigating governance reforms, African banks continue to embody the complex relationship between money, power, and social change.
In South Africa, where inequality and economic stagnation remain persistent, banks like Standard Bank face growing scrutiny over their role in supporting small businesses and sustainable investment. In North Africa, Moroccan and Egyptian institutions are expanding their reach into sub-Saharan markets, a strategy that fuses economic ambition with soft diplomacy.
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